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. >> fiscal cliff talks are turning into a high stakes game of chicken. timothy geithner said there's no deal unless republicans agree to raise taxes on the wealthy. republicans are furious. they don't like democrats drawing a red line in the sand. president obama and the gop leaders have only held one face-to-face meeting on the fis calgary cliff since the election. that meeting took place more than two weeks ago. >>> the military trial of private bradley manning will stop fou now and resume in a month. that's what a military judge decided today. the delay is to give time for more of what the court calls pretrial proceedings. manning is accused of releasing u.s. military secrets through the website wikileaks. if convicted in a court-martial, he could get life in prison. >>> pope benedict is joining twitter officially. he launches his own internet account tomorrow. that's according to the vatican. a church official tells cnn that the pope will compose all of his tweets himself. no word yet on what he's chosen for his twitter account name. >>> it is a sigh
. >> fiscal cliff talks are turning into a high stakes game of chicken. timothy geithner said there's no deal unless republicans agree to raise taxes on the wealthy. republicans are furious. they don't like democrats drawing a red line in the sand. president obama and the gop leaders have only held one face-to-face meeting on the fis calgary cliff since the election. that meeting took place more than two weeks ago. >>> the military trial of private bradley manning will stop fou...
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today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story through the white house's hash tag my 2k social media campaign. >>> with talks and a public stalemate on wednesday the president called speaker boehner their first conversation of the week. the two sides agreed on one thing. they wouldn't characterize the conversation. aides even refused to say how long the two leaders talked. this latest move, though, treasury secretary timothy geithner showed cnbc wednesday the white house is prepared to go over the cliff if democrats and republicans fail to get a deal done. >> when it comes to raising taxes on the wealthy, those making more than $250,000, if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there is no prospect to an agreement that doesn't involve those rates going up on the
today's fiscal cliff photo op of the day is going to be in suburban northern virginia when the president will remind the public yet again that without a budget deal taxes will go up on 100% of americans at the end of the year. he'll visit the home of a middle class family who shared their story through the white house's hash tag my 2k social media campaign. >>> with talks and a public stalemate on wednesday the president called speaker boehner their first conversation of the week. the...
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Dec 4, 2012
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if there's a deal on the fiscal cliff, if there's going to be a deal before january 1st, there will be rate increases of some sort. boehner can't be the guy to lead republicans to that, because they don't trust him and looking for sign of a sellout. what he needs to do here, this goes to the end of the month because boehner has to wait and put up the fight and make it look like he's putting up the filt. other conservatives say it's time to go. >> who would that be? >> people on talk radio and fox news and "wall street journal." >> who in washington would lead that? >> i think the tea partiers in the house are responsive to that information network. that's what happened with -- here's the key. last year the payroll tax was coming up for expiration at end of last year. obama said i wanted it extended for 2012. republicans at first said no, and boehner had to say no with them. when the deadline came last christmas, around last christmas republicans started to panic but polls showed people would blame them. all of a sudden those voices said let's not have this fight now. >> he's banking on
if there's a deal on the fiscal cliff, if there's going to be a deal before january 1st, there will be rate increases of some sort. boehner can't be the guy to lead republicans to that, because they don't trust him and looking for sign of a sellout. what he needs to do here, this goes to the end of the month because boehner has to wait and put up the fight and make it look like he's putting up the filt. other conservatives say it's time to go. >> who would that be? >> people on talk...
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Nov 30, 2012
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take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan. serious cuts and revenue increases. you can't -- >> we've had 18 debt and deficit commissions since '81. the cuts never came. >> cynicism isn't a plan though, eric. we need to put forward a plan. can't just keep saying they're screwing it up. >> if you don't put cuts in though with tax increase, you've got a problem because it's easy to raise taxes on a few people. most people will not support cuts that hurt them. >> you've got to have entitlement reform. >> you can actually lower rates, close loopholes and raise revenue. >> all right. thanks to both. appreciate it. more than two months after the deadly a
take that deal. don't go over the fiscal cliff. live to find another deal on a grand bargain. tax reform, entitlement. >> you really think democrats, they get that tax increase, that they're going to come and give spending cuts late sner. >> i think there are ways you can try to make it. eric's made a great point historically that things like ruddman, the spending cuts never end up happening. everyone who's realistic at the table recognizes you've got to have a balanced plan....
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short term spending cuts should be part of any fiscal cliff deal. the big news this morning is we're not going over the cliff. they have a bad hand. they're going to end up passing this middle class tax thing if that's the only thing they do. and live to fight another day. you can see the momentum building. not official but you see it. the difficulty for boehner still is passing the extension may be best of the options it is an option that a chunk of his party has said he would reject. the fiscal conservatives criticizing boehner's budget pr proposal. then you had senate republicans watching their backs, rejecting a u.n. treaty that bans discrimination against those with disabilities around the world. senator jim demint said speaker boehner's $800 billion tax hike will destroy american jobs. yes, he said speaker boehner. one party proposes increase in an effort to counter them. the other party's leadership proposes, wait for it, $800 billion in tax increases and then former alaska governor sarah palin blasting boehner's decision to remove some conse
short term spending cuts should be part of any fiscal cliff deal. the big news this morning is we're not going over the cliff. they have a bad hand. they're going to end up passing this middle class tax thing if that's the only thing they do. and live to fight another day. you can see the momentum building. not official but you see it. the difficulty for boehner still is passing the extension may be best of the options it is an option that a chunk of his party has said he would reject. the...
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cliff deal this morning. this is what house speaker john boehner said about the state of the negotiations. take a listen. >> i think they're -- they won the election, they must have forgotten the republicans continue to hold the majority in the house. but you know, the president's idea of a negotiation is -- roll over and do what i ask. we need to find common ground and we need to find it quickly. >> governor, are they going to be able to find that common ground quickly? >> yeah, i think they are. you know i have to laugh. in the first term, the president was criticized by his base for giving in too quickly or too easily. this is a negotiation. and in the negotiation, you don't put on the table initially where you want to wind up. you put out what's your bargaining position and both sides have to understand that. but what i do think is important, is both sides, and not just the president, but our democrats in the congress as well. have to understand both sides have to understand what the other side needs to d
cliff deal this morning. this is what house speaker john boehner said about the state of the negotiations. take a listen. >> i think they're -- they won the election, they must have forgotten the republicans continue to hold the majority in the house. but you know, the president's idea of a negotiation is -- roll over and do what i ask. we need to find common ground and we need to find it quickly. >> governor, are they going to be able to find that common ground quickly? >>...
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cliff deal because it's unlikely that house republicans would allow these to appear freestanding. using these as leverage in terms of negotiation. house republicans could sleep fine knowing the payroll tax cut is not extended and the ui is not extended. they think that's too much spending. >> which is crazy because they're arguing for the top earners really putting their stake in the ground on top earners and when it comes to working class and poor tax cuts are a bad thing. >> the payroll tax cut there's a division between democrats about how much you want to raid the social security trust fund. but unemployment insurance, i think absolutely has to be part of the deal from the white house perspective aside from it fitting the democrat ex-ideology, it's also what president obama believes is a stimulus to the economy. >> yeah. >> that helps people have disposable income to go to restaurants, buy gas, buy food, to pay things for their children. and i would be very surprised if it ended up as part of the larger deal because it's not going to come in early spring. >> one of the things
cliff deal because it's unlikely that house republicans would allow these to appear freestanding. using these as leverage in terms of negotiation. house republicans could sleep fine knowing the payroll tax cut is not extended and the ui is not extended. they think that's too much spending. >> which is crazy because they're arguing for the top earners really putting their stake in the ground on top earners and when it comes to working class and poor tax cuts are a bad thing. >> the...
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of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you notice that that's how this stuff is coming out. it's not phone calls between the two sides or closed-door meetings. we don't know what spending democrats would cut and we haven't even begun the entitlements discussion, which the president is theoretically open to. so there's a lot that still needs to happen. i mean for you and me and normal people, three weeks away may seem like a short time, but there's a feeling that this has barely even begun. >> here's senator bob corker and clairk mccaskill. here it is. >> great detail, very painful cuts to me
of how the fiscal cliff gets resolved. in the end, they have got not much. they can say they have a mandate so it's equal, but it really isn't and they know that. >> we seem to know as much about mitt romney's taxes as we do about the loopholes republicans are willing to close in this. they can't offer any specifics. is this a turnoff for the people? >> in fairness we have to recognize that there's been a lack of specifics on both sides here. they are negotiating in public. you...
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in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlemented ientitlements i'm prepared to make, we have to see the rates on the top 2% go up. we're not getting a deal without it. understand the reason for that. it's not me being stubborn or partisan, it's a matter of math. >> and the gop plan, which was unveiled yesterday, includes $800 bill onin new taxes made through closing loopholes and deductions and not raising rates. compare that to the president's plan and that's about half of what the white house asked for. republicans propose 600 billion in entitle
in a new interview president obama says a deal to avoid the so-called fiscal cliff is still possible but not without higher taxes for the wealthy. the president sat down with bloomberg for his first tv interview since the election and the fiscal cliff face off. he reiterated that lying in the sand is higher taxes for the wealthy. he gave republicans some room to maneuver. >> the issue right now that's relevant is the acknowledgment that if we're going to raise revenues that are sufficient...
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struck on the fiscal cliff. i think boehner is trying to exert control. leaders try to exert control before these votes happen. sometimes weeks before. so this was a warning to house conservatives, that if you go against leadership and a deal is struck, there are going to be consequences. >> yeah. so chuck todd, let's talk about the other side of pennsylvania avenue. the president of the united states yesterday speaking with john boehner. and they wisely decided not to characterize that phone call, thank god for the sake of america. and the world. also, you had tim geithner. good god. >> he didn't say anything he hasn't said before. >> geithner on the sunday shows was saying oh, yeah, the republicans are going to back down. they're going to cower in the corner, tremble and whatever. and then yesterday he said we're going to go over the cliff if republicans don't do what we want. i'm curious, what's the white house attitude right now? are they willing to go over the cliff? is geithner right? >> are they willing t
struck on the fiscal cliff. i think boehner is trying to exert control. leaders try to exert control before these votes happen. sometimes weeks before. so this was a warning to house conservatives, that if you go against leadership and a deal is struck, there are going to be consequences. >> yeah. so chuck todd, let's talk about the other side of pennsylvania avenue. the president of the united states yesterday speaking with john boehner. and they wisely decided not to characterize that...
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. >>> tonight, a familiar washington drama, the return of the towering fiscal cliff. good news is, democrats have put forward a deal. thank you. bad news is republicans hate it. both sides seem to be digging in. so is either side going to budge any time? raw politics ahead. this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. aids is not going to take my baby. ♪ aids will not take our future. ♪ our weapons are testing... education, care and support. ♪ and aids... ♪ aids is going to lose. aids is going to lose. ♪ aids is going to lose. aids is going to lose. why they have a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> in raw politics, wit
. >>> tonight, a familiar washington drama, the return of the towering fiscal cliff. good news is, democrats have put forward a deal. thank you. bad news is republicans hate it. both sides seem to be digging in. so is either side going to budge any time? raw politics ahead. this isn't just a headache. trust me, this is new bayer migraine. [ male announcer ] it's the power of aspirin plus more in a triple action formula to relieve your tough migraines. new bayer migraine formula. aids...
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and every single poll shows that the republicans are losing the debate, both on the fiscal cliff and on the tax issue. they're losing the issue politically. i think they know they're losing the issue politically, and i think they know at some point they are going to have to concede a deal that are largely on president obama's terms. but they're also losing the argument with economists. if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the wealthy, every single economic study has shown that that will have virtually no impact on gdp growth. the congressional budget office did a study that showed that it would decrease gdp growth by 0.1%. virtually no impact. republicans didn't like that cbo study although they always like the cbo. so they went to crs to see if they could do another study that would differ from the cbo study. crs confirmed it. all the economists are unanimous if we're going to try to go after the debt, now that we have virtually 3% gdp growth, we want do it in a way that's least damaging to the economy. almost all
and every single poll shows that the republicans are losing the debate, both on the fiscal cliff and on the tax issue. they're losing the issue politically. i think they know they're losing the issue politically, and i think they know at some point they are going to have to concede a deal that are largely on president obama's terms. but they're also losing the argument with economists. if you consider what president obama put forward yesterday with a $1.6 trillion in tax increases mostly on the...
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cliff is not focusing attention. the report that mitch mcconnell laughed yesterday when timothy geithner presented the white house position, this is the mitch mcconnell who said we're going to -- my main goal is to defeat the president, not give him a second term. >> how is that working? >> senator mcconnell, second term is here, things have changed, and the obama -- the last term where he was reaching out offering to negotiate from the middle, is gone. you know, he's going to put out there what he wants because he won and there is not a chance of defeating him now. at least in an election. and i don't think on this issue. on the issue of middle class tax cuts republicans want to go forward saying we raised taxes on the middle class. >> but chris, doesn't the white house have to be a little more specific about what's in that $400 billion of medicare cuts? i mean they're trying to smoke out what the republicans are willing to go for, but each side is suspicious, understandably, they will get hammered publicly. >> that
cliff is not focusing attention. the report that mitch mcconnell laughed yesterday when timothy geithner presented the white house position, this is the mitch mcconnell who said we're going to -- my main goal is to defeat the president, not give him a second term. >> how is that working? >> senator mcconnell, second term is here, things have changed, and the obama -- the last term where he was reaching out offering to negotiate from the middle, is gone. you know, he's going to put...
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. >> tonight, democratic whip steny hoyer gives me the latest fiscal cliff developments and the democratic line on medicare. tom perriello from the center of american progress action fund on how democrats can deal with republicans who can't deal with reality. rubio and ryan reload with a new message for the middle class. >> both parties tend to divide americans into our voters and their voters. >> but there is no escaping their own policies. >> we're going to a majority of takers versus makers in america. >> dnc chair debbie wasserman schultz responds tonight. plus, senator barbara boxer on her new plan for national polling place standards. and a new poll shows half of all republicans think the defunct group a.c.o.r.n. stole the election from president obama. >> that's an eye opener. >> i wonder where they ever got that idea? >> you just have to wait and see what happens. >>> good to have you with us tonight, folks. thanks for watching. here is are the latest. republicans are at a stalemate with the white house for debt negotiations. republicans really only have two options now, bad and wo
. >> tonight, democratic whip steny hoyer gives me the latest fiscal cliff developments and the democratic line on medicare. tom perriello from the center of american progress action fund on how democrats can deal with republicans who can't deal with reality. rubio and ryan reload with a new message for the middle class. >> both parties tend to divide americans into our voters and their voters. >> but there is no escaping their own policies. >> we're going to a majority...
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the effort to reach a deal on the fiscal cliff is now a two-man operation. interesting. president obama and speaker boehner. nobody else. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his message to the public, visiting a local virginia family as a part of his my2k social media campaign, sitting around the kitchen table. he told the family he was optimistic. >> the message that i think we all want to send to members of congress is, this is a solvable problem. the senate has already passed a bill that would make sure the middle-class taxes don't go up next year by a single dime. just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. but i do remain optimistic that we can get something done that is good for families like thi
the effort to reach a deal on the fiscal cliff is now a two-man operation. interesting. president obama and speaker boehner. nobody else. with 24 days before a year-end deadline, "the new york times" says boehner made the request to clear the negotiation room going forward, leaving it up to himself and the president to reach a deal to avoid automatic tax hikes and deep spending cuts. and while the two men may be negotiating privately, yesterday the president took his message to the...
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it makes no sense at all to go past the fiscal cliff, maybe solve that problem, and then run right into a debt ceiling discussion. so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything you see and read and hear and he is a -- i've known him a long time. he's an accomplished guy. he knows these issues perfectly. he has worked in the financial community and has a sense of that and vice versa. and so i think he would be a it terrific choice. >> we should say there are a couple other people who have been rumored to being vetted. roger altman, former treasury official, larry fink, be erskine bowles. this what is alan simpson, erskine bowles' partner in the deficit commission, had to say about that possibility last week on the show. >> he said he would be very pleased to do that. he shared that wit
it makes no sense at all to go past the fiscal cliff, maybe solve that problem, and then run right into a debt ceiling discussion. so i think what the white house is signaling is that at a minimum, any deficit package has to include this immediate february and march debt ceiling that we're going to hit. >> is jack lew the current chief of staff and former budget director the top candidate to be treasury? what is your best guess? >> he appears to be the frontrunner from everything...
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cliff. >> but here's the thing. both sides acknowledge that you're not going to get a deal done without some sort of change to entitlements. specifically medicare. >> well, i'm not so sure what that means when you say it's some sort of change. some sort of structural change to medicare? i'm not sure that has to be on the table. i do think, though, that we do have to have some spending cuts and the president has acknowledged that, as well. but the basis of the problem is you have to have -- the republican party is intransigent about the idea of tax increases and the taxes will grow up after december 31st regardless of what happens. if you don't do anything, they'll go up. so you have to do something. you'll have 98% of the american people who will get a tax cut under president obama's proposal, 97% of american small businesses will get a tax cut. so why not come to a negotiated deal on the things that we agree on and put aside the other things. we don't thesely have to agree on those 2%. let's work on where there is
cliff. >> but here's the thing. both sides acknowledge that you're not going to get a deal done without some sort of change to entitlements. specifically medicare. >> well, i'm not so sure what that means when you say it's some sort of change. some sort of structural change to medicare? i'm not sure that has to be on the table. i do think, though, that we do have to have some spending cuts and the president has acknowledged that, as well. but the basis of the problem is you have to...
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markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate, which was 1.3%. and there's definitely good stuff here. you look deeper in the report, you find out the u.s. exported more than first thought. that's good. because we really need people in other countries to buy our stuff. that helps our economy. home building and strong corporate profits, that also helped our economy. but here's the thing. when you dig deeper in the report, past that headline number of 2.7%, you know, it's not all it's cracked up to be. businesses built up bigger inventories of their products last quarter. that helps the economy now, but the thing is, it means next quarter these busi
markets around the world are up today, a sign of confidence that a fiscal cliff deal just might be in the works. we'll see. another positive sign for the economy, the broadest picture we can get of the economy's health, gdp, came in quite a bit better than expected in the third quarter. alison kosik at the new york stock exchange to explain. hi. >> reporter: hey, carol. so between july and september, the economy grew at a 2.7% rate. so that came in much better than second quarter's rate,...
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. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare and social security, programs that take up something like 50% of our federal budget will remain intact and won't be subjected to the necessary reform to last for young people to ever reach them. the problem is that young people don't think life goes on after the age of 30. if you're on twitter and facebook, that's a long way away. why are you worried about entitlements? >> the funny thing is that president obama is using social media to do the exact same thing. for example, he will visit a virginia middle class family today. they were part of his twitter verse. that's why he chose them. he must think that talki
. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare...
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avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house mino
avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise....
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dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare. and then the plan also includes $50 billion in stimulus spending. democrats see this really as sort of the opening salvo in these negotiations. early on in this process, both sides appear to show some level of optimism that this would get done. in the last few days and certainly yesterday it just seems like both sides are so far apart, it's not unusual for us to see this kind of posturing and other negotiations, tough negotiations over the last four years or so. you'll see things build up whether it appears that it's going to get done. then they fall apart. in the end it does happen
dan, we're learning more about the white house plan to deal with the fiscal cliff. break it down for us. >> reporter: right. this is the plan that secretary -- treasury secretary timothy geithner took up to capitol hill yesterday. it calls for $1.6 trillion in tax increases over a ten-year period more than republicans had anticipated. in addition to that, $400 billion in spending cuts that will come later. much of that not really specified. we're looking at entitlements such as medicare....
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. >>> by now, i know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it doesn't seem like anyone is doing anything but photo ops and news conferences. one politician was quoted as saying, effectively, we have a month. that's loads of time. is this a sophisticated game of chicken? >> it's a rather unsophisticated game of chicken, kind of elementary. what they're doing, both sides really, is doing a lot of posturing and waiting until they get close to the deadline if not go over the deadline because they feel if they go over the deadline, they're in a position to tell their hard core supporters, look, we have really got to make this deal now or that's the end. the economy goes bac
. >>> by now, i know you have all heard of the so-called fiscal cliff, the huge tax hikes and spending cuts that will be triggered if congress and the white house don't reach a budget deal by the end of the month. well, what are we looking at? first, cuts in defense. also bush era tax cuts set to x expire, so the majority of americans will pay more taxes. also at stake, the payroll tax holiday and unemployment benefits expect to get cut. dana, in your most recent column, you say it...